India's Fallen Tech Darlings Are Value Buys for Franklin Templeton After $20 Billion Wipeout – Bloomberg
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Franklin Templeton bought shares of some Indian technology startups after concerns over valuations and higher interest rates shaved more than $20 billion in market value from five high-profile recent market debutants.
“We are looking at new tech companies as their valuations have been reset,” Anand Radhakrishnan, chief investment officer for equities at Franklin Templeton’s India unit, said in an interview. “More importantly, there is data available about their business models.”